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sudden decrease equifax FICO
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Posted by pkc
(171.75.17.28) on August 31, 2003 at 23:25:49:
In June of this year I applied for a mortgage loan on Lending Tree, at which point my FICO scores from the 3 CRA's ranged from 650-660. My revolving credit is pretty much maxed, and I have a total of 4 60 day lates on installments, the most recent being June 2002, hence the relatively low scores. I stopped the application process due to non-related issues and just started it up again last week. While TransUnion and Experian had not changed much, Equifax went down to 618! I got the loan officer to give me a copies of both full merged reports - nothing is different since June except for 21 inquires since June 16 related to my shopping around for a loan. Everything else has continued to be paid current and the number of inquiries is not listed as any of the 4 reasons for Equifax's low score. Did the inquires lower my score that much?? If not, what else could it be? And why only Equifax? Do I have any recourse? My average is too low for me to get a loan now.
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